Customer Relationship Management: A need of the Hour

Customer Relationship Management (CRM) has emerged as a popular business strategy in today’s competitive environment. It is a discipline which enables the companies to identify and target their most profitable customers. Faced with an increasing array of products and services, customers are expecting more from providers regarding value, ease of access and personalized services. Therefore, the greatest challenge for industries these days is to incorporate customer voice into design of products and service offering so that maximum customer value can be delivered to the customers leading to their satisfaction and positive impact on bottom line. The paper discusses the concept and evolution of Customer Relationship Management and outlines the way in which it can aid customer relationship by creating an enhanced customer value.